The number of homes the UK builds each year is projected to drop from 260,000 to 215,000 by 2026–27 — a 17% slide in just a few years. That means fewer new properties hitting the market, and fewer open houses for buyers to walk through. At the same time, mortgage rates have climbed, with the average two-year fixed rate sitting above 4.8% in April 2026, up from around 3.6% in January. Taken together, it’s a very different landscape for anyone trying to buy a home or sell one.
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This article is general information only and does not constitute professional advice. For your specific situation, consult a qualified professional.
Fewer homes being built, planning delays stretching beyond a year, and borrowing costs that keep climbing — each one chips away at the traditional open house model. Developers are building less, selling fewer homes per week, and shifting how they market what they do build. Here’s what you actually need to know.
You’ll hear the term open house a lot in UK property. It’s simply an event where a property is open for multiple potential buyers to view at the same time — often used for new home developments or resale properties. What I tend to notice is that the open house was once a reliable way to gauge interest and generate offers. That’s changing.
What the full cost picture looks like now
Buying a home isn’t just about the asking price. The costs surrounding a purchase have shifted noticeably, and they affect how open houses work. Homebuilding costs have risen by £76,000 since 2020, according to a recent report — that’s higher taxes, stricter regulations, and more expensive materials all rolled into one. Those costs get passed on, and they show up in the price of every new home on the market.
Mortgage rates add another layer. The average two-year fixed rate hit 4.8% in April 2026, up from roughly 3.6% in January. That jump of over one percentage point in a few months reduces what buyers can borrow. Worth weighing against that: even small rate changes can shift monthly payments by hundreds of pounds, which directly affects how many people turn up to an open house ready to make an offer.
Regional differences are stark. London is the furthest behind on housing delivery, hitting only 39% of its target in the year to Q1 2026 — a shortfall of over 51,000 homes. The East Midlands performed best, delivering 81% of its housing need. If you’re looking at open houses in London, you’re seeing a fraction of what the area actually needs.
→ Scroll right to see all columns
| Region | Housing need delivered | Annual shortfall |
|---|---|---|
| London | 39% | 51,000+ homes |
| East Midlands | 81% | Closest to target |
| All English regions | Below 100% | Universal shortfall |
All of this means that when you do see an open house advertised, the property behind it has likely survived a longer, more expensive development process than it would have a few years ago. The days of walking into a new development with dozens of units available and a sales office ready to deal are thinning. If you’re shopping for a home, it helps to plan your financing ahead before you step through the door.
Where buyers and sellers get the current market wrong
Assuming open houses will be busy
It’s easy to assume that a Saturday open house will draw a crowd. But the average private sales rate per outlet per week across major housebuilders was just 0.58 between June and November 2025 — down from 0.61 at the start of the year. That means fewer than one home sold per week per development. A quiet open house isn’t a bad one; it’s a sign of the times.
Underestimating planning delays for new homes
If you’re looking at a new-build development, the homes you see might have taken years to get to market. The average time to determine a major planning application is now 14 months. And 77% of developers say planning delays are their biggest constraint. So when a developer holds an open house, they’re often marketing homes that were approved much earlier, under different cost conditions. The price you see reflects that lag.
Overlooking the shift to private viewings
Many developers and agents are moving away from open houses entirely. Instead, they’re offering private appointments or virtual tours. In the year to Q1 2026, six out of nine English regions granted consent for fewer new homes than were completed — meaning fewer new properties to show. If you’re waiting for a big open day to find your next home, you might miss out. I’d suggest registering directly with local agents and developers rather than relying on advertised open house dates.
Ignoring the mortgage rate window
Mortgage rates have been unpredictable. The average two-year fixed rate rose from around 3.6% in January to over 4.8% by April 2026. That’s a swing of more than a percentage point in a few months. Buyers who assume rates will stay low or keep falling are taking a risk. If you find a property you like at an open house, locking in a rate sooner rather than later can save thousands.
How to approach open houses in today’s market
Understand what you’re walking into
An open house today isn’t necessarily a sign of a motivated seller or a hot property. It might simply be the developer’s best option given low foot traffic. The proportion of homes delivered by the ten largest housebuilders increased by 6% in the year to Q1 2026, meaning the biggest players are dominating the market. Smaller developers, who used to rely heavily on open houses, are building less. So the open houses you see are more likely to be from major builders with larger marketing budgets — and potentially less flexibility on price.
Know the full cost before you view
Before you go to an open house, work out the total cost. Purchase price is only part of it. Stamp duty, legal fees, survey costs, and — for leasehold properties — service charges and ground rent all add up. If you’re looking at a new-build, remember that homebuilding costs have risen £76,000 since 2020, and that’s reflected in the asking price. Bring a clear budget and know your mortgage limit. Talking to a real estate lawyer early can help you understand the legal costs tied to the transaction.
Consider the digital alternative
Many developers now offer virtual tours as a first step. If an open house isn’t available or doesn’t fit your schedule, ask for a video walkthrough or a live video call. Some agents are handling more than half of initial inquiries through digital platforms. A virtual tour won’t replace a physical visit, but it can help you narrow down your options before you commit to a viewing. If you’re serious about a property, follow up with a private appointment rather than waiting for the next open day.
What the Planning and Infrastructure Bill could change
Central to the projected recovery in housebuilding is the Planning and Infrastructure Bill, which aims to overhaul the UK’s planning system. The bill would push many planning decisions from committees to officers, create regional strategic planning authorities, and streamline consents for major projects. Government analysis suggests these reforms could help push net additions to 305,000 homes a year by 2029–30. If that happens, open houses could become more common again as the pipeline of new homes expands. But that’s still a few years away, and the reforms have to clear Parliament first. For now, the market remains tight.
If you’re buying a leasehold property at an open house, pay close attention to the remaining lease length and any ground rent clauses. A property lawyer can review the lease terms before you commit.
Frequently asked questions about open houses
Why are open houses less common now than a few years ago? ▾
Does a quiet open house mean the property is overpriced? ▾
Should I still attend open houses, or focus on private viewings? ▾
How do mortgage rates affect open house attendance? ▾
Will open houses make a comeback in the next few years? ▾
What should I bring to an open house in the current market? ▾
Open houses are changing — but they’re not gone
The open house isn’t disappearing. It’s shifting. Fewer homes, longer planning timelines, and higher borrowing costs mean you’ll see fewer of them, and they’ll look different when you do. The key is to adjust your approach: register with agents, be ready with your financing, and don’t assume a quiet open house is a wasted trip. If the Planning and Infrastructure Bill delivers on its promise, the pipeline could open up again by the end of the decade. Until then, the market belongs to buyers who adapt.
Remember: this article is general information only. For advice on your specific situation, speak to a qualified professional.
If this was useful, you might also want to read The Rise of Co-Living: Is Shared Housing the Future of UK Property?.
Sources and Further Reading
Understanding Foreclosure Property Risks When Buying a House — A practical guide to the risks and checks involved in buying distressed property, useful context for anyone navigating a tighter market.
Top Energy Efficiency Tips for Buying an Apartment in the UK — Energy costs matter more than ever when budgeting for a home purchase; this post covers what to look for during viewings.
Homebuilding.co.uk (2025). OBR Budget leak reveals housing supply to slump from 260,000 to 215,000 homes by 2026-27. 🔗
Savills (2026). Why UK Open Houses Aren’t What They Used to Be. 🔗
RICS (2025). UK housing shortage: the scale of the problem. 🔗
